In today’s briefing:
- Aadhar Housing Finance IPO Lockup – PE Owner Is up 5.6x, with US$800m Lockup Expiry Soon
- Canara Robeco AMC Pre-IPO Tearsheet
- NIFTY INDEX Outlook: Back in an Uptrend – Where To Buy This Dip
Aadhar Housing Finance IPO Lockup – PE Owner Is up 5.6x, with US$800m Lockup Expiry Soon
- Aadhar Housing Finance raised around US$360m in its India IPO in May 2024, via selling a mix of primary and secondary shares. Its IPO lockup is set to expire soon
- AHF is focused on the low income housing segments (ticket size less than INR1.5m) in India. It offers a range of mortgage-related loan products.
- In this note, we will talk about the lockup dynamics and possible placement.
Canara Robeco AMC Pre-IPO Tearsheet
- Canara Robeco AMC (570515Z IN) is looking to raise about US$176m in its upcoming India IPO. The deal will be run by Axis, JM Fin and SBI Caps.
- Canara Robeco is an asset management company engaged in managing mutual funds and providing investment advice on Indian equities to Robeco Hong Kong Limited, a member of the Promoter Group.
- According to CRISIL, it is India’s second oldest asset management company.
NIFTY INDEX Outlook: Back in an Uptrend – Where To Buy This Dip
- In our previousNIFTY Index insight we highlighted rally targets in the 24039-24496 zone. The index reached 24589 last week, double-topped this week, then closed the week down at 24008.
- The index was ultra-overbought according to our WEEKLY model, the pullback was overdue. This pullback is a buy opportunity.
- This insight discusses key support zones to buy and profit taking targets for the rally.
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